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Canadian Natural Resources sees 17 pct rise in 2018 production
November 7, 2017 / 10:25 AM / a month ago

Canadian Natural Resources sees 17 pct rise in 2018 production

Nov 7 (Reuters) - Canadian Natural Resources Ltd on Tuesday forecast a 17 percent rise in 2018 production, although it lowered its capital budget for the year.

The company set its 2018 capital budget at C$4.3 billion ($3.37 billion), compared with C$4.9 billion in 2017.

Canada’s largest independent petroleum producer said overall production in 2018 is expected to range between 1.1 million barrels of oil equivalent per day (boe/d) and 1.17 million boe/d. The company expects 2017 production of 833,000 boe/d to 883,000 boe/d. ($1 = 1.2759 Canadian dollars) (Reporting by John Benny in Bengaluru; Editing by Anil D‘Silva)

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